Can I retire at age 57 with 2,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$166,810$165,324$163,874$162,459$161,078$160,399
2 years$82,579$81,041$79,551$78,105$76,704$76,018
3 years$54,506$52,961$51,474$50,043$48,664$47,993
4 years$40,472$38,932$37,460$36,053$34,708$34,057
5 years$32,054$30,523$29,071$27,692$26,384$25,755
6 years$26,444$24,925$23,493$22,146$20,877$20,271
7 years$22,438$20,932$19,523$18,207$16,978$16,395
8 years$19,435$17,942$16,557$15,274$14,085$13,525
9 years$17,101$15,622$14,261$13,010$11,862$11,324
10 years$15,234$13,770$12,433$11,214$10,107$9,592
11 years$13,708$12,259$10,946$9,760$8,692$8,200
12 years$12,437$11,003$9,714$8,561$7,533$7,062
13 years$11,363$9,943$8,679$7,558$6,569$6,119
14 years$10,443$9,038$7,798$6,709$5,758$5,330
15 years$9,646$8,256$7,040$5,983$5,070$4,662
16 years$8,949$7,575$6,383$5,357$4,481$4,093
17 years$8,335$6,976$5,808$4,814$3,973$3,604
18 years$7,790$6,447$5,302$4,338$3,532$3,183
19 years$7,303$5,975$4,854$3,920$3,149$2,817
20 years$6,865$5,552$4,455$3,550$2,812$2,498
21 years$6,470$5,171$4,098$3,222$2,517$2,220
22 years$6,110$4,827$3,777$2,929$2,256$1,975
23 years$5,783$4,515$3,487$2,668$2,025$1,760
24 years$5,483$4,230$3,225$2,433$1,820$1,570
25 years$5,208$3,970$2,987$2,222$1,638$1,402
26 years$4,954$3,731$2,770$2,032$1,475$1,253
27 years$4,720$3,511$2,572$1,860$1,330$1,121
28 years$4,502$3,309$2,391$1,704$1,200$1,004
29 years$4,300$3,121$2,225$1,563$1,084$899
30 years$4,112$2,948$2,073$1,434$979$806
31 years$3,936$2,787$1,932$1,317$885$723
32 years$3,772$2,637$1,803$1,210$801$649
33 years$3,618$2,497$1,683$1,113$725$582
34 years$3,473$2,367$1,573$1,024$656$523
35 years$3,337$2,245$1,471$943$594$470
36 years$3,208$2,131$1,376$868$538$422
37 years$3,087$2,023$1,288$800$488$379
38 years$2,973$1,923$1,206$737$442$341
39 years$2,864$1,829$1,130$680$401$307
40 years$2,762$1,740$1,059$627$364$276
41 years$2,664$1,656$993$579$330$248
42 years$2,572$1,577$931$534$300$223
43 years$2,484$1,503$874$493$272$201
44 years$2,400$1,432$820$455$247$181
45 years$2,320$1,366$770$420$224$163
46 years$2,244$1,303$723$388$203$146
47 years$2,172$1,244$680$359$185$132
48 years$2,102$1,187$639$331$168$119
49 years$2,036$1,134$600$306$152$107
50 years$1,972$1,083$564$283$138$96

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,020,000, adding $4,018 every year, while hoping to spend $32,508 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 63/27/10 Blend
56$2,020,000$2,020,000$2,020,000$2,020,000
57$2,230,185$2,123,125$2,091,815$2,365,514
58$2,423,075$2,192,569$2,127,302$2,525,898
59$2,634,551$2,264,328$2,162,889$2,696,808
60$2,866,474$2,338,478$2,198,544$2,882,600
61$3,120,893$2,415,102$2,234,234$3,084,718
62$3,400,067$2,494,286$2,269,925$3,304,749
63$3,706,484$2,576,116$2,305,577$3,544,443
64$4,042,883$2,660,683$2,341,151$3,805,723
65$4,412,283$2,748,082$2,376,605$4,090,707
66$4,818,007$2,838,409$2,411,893$4,401,725
67$5,263,719$2,931,767$2,446,967$4,741,344
68$5,753,453$3,028,258$2,481,775$5,112,390
69$6,291,654$3,127,992$2,516,264$5,517,974
70$6,883,220$3,231,080$2,550,375$5,961,521
71$7,533,544$3,337,639$2,584,049$6,446,804
72$8,248,571$3,447,788$2,617,219$6,977,976
73$9,034,849$3,561,654$2,649,820$7,559,612
74$9,899,592$3,679,363$2,681,777$8,196,751
75$10,850,749$3,801,051$2,713,016$8,894,940
76$11,897,078$3,926,855$2,743,455$9,660,291
77$13,048,229$4,056,920$2,773,009$10,499,536
78$14,314,833$4,191,394$2,801,590$11,420,088
79$15,708,605$4,330,431$2,829,102$12,430,115
80$17,242,452$4,474,191$2,855,446$13,538,612
81$18,930,596$4,622,840$2,880,517$14,755,490
82$20,788,707$4,776,550$2,904,205$16,091,665
83$22,834,051$4,935,497$2,926,392$17,559,163
84$25,085,655$5,099,867$2,946,957$19,171,233
85$27,564,483$5,269,852$2,965,771$20,942,470
86$30,293,633$5,445,648$2,982,697$22,888,954
87$33,298,561$5,627,461$2,997,595$25,028,400
88$36,607,313$5,815,506$3,010,313$27,380,324
89$40,250,795$6,010,002$3,020,695$29,966,232
90$44,263,063$6,211,178$3,028,575$32,809,813
91$48,681,642$6,419,273$3,033,779$35,937,170
92$53,547,885$6,634,533$3,036,126$39,377,063
93$58,907,357$6,857,213$3,035,424$43,161,180
94$64,810,269$7,087,578$3,031,472$47,324,435
95$71,311,951$7,325,904$3,024,061$51,905,296
96$78,473,372$7,572,475$3,012,969$56,946,152
97$86,361,717$7,827,587$2,997,964$62,493,705
98$95,051,021$8,091,548$2,978,805$68,599,418
99$104,622,867$8,364,676$2,955,237$75,319,995
100$115,167,156$8,647,301$2,926,994$82,717,916